Auction Technology shares soar as revenues rise 11%

Shares in Auction Technology Group soared by a fifth as the art and antique online marketplace operator said it expected annual results to be in line with expectations after an 11% increase in revenue for the first three months of the year.

The company on Tuesday said total came in at $43.9m, driven by the continued strong growth in value-added services offsetting the wider market dynamics in gross merchandise value that continued from the end of the 2023 financial year into 2024.

ATG still expects full-year organic revenue growth of 5 - 8% and adjusted core earnings margins to be maintained.

Reporting by Frank Prenesti for Sharecast.com